1. Set up and complete the profit and loss spreadsheet, using the following amounts: Customer returns:$10,000.00 Operating expenses: $82.500.00 Markdowns: 3.00% Cost of Goods: $95.150.00 Stock shortages:$1,350.00 Employee discounts: $2,500.00 Net sales: $187,000.0 (Hint: Be certain to calculate the cost of goods.) How did the change in customer returns affect the profit percentage in this problem compared to the profit percentage in the previous problem?

2. Set up and complete a P & I. statement for the T-SHIRT STORE. The following information should be used: Net sales are $501,500.00, invoice for goods is 52.00%, transportation was provided by the manufacturer, no alterations are al-lowed, cash discounts were received and amounted to $15,045.00, reductions are calculated at 5.00% of net sales, and operating expenses are $240,000.00.

3. Set up and complete the P & I. statement for The Shoe Store. Insert the following dollar amounts: Net sales: $444.000.00 Profit: $2,500.00 Customer returns:10.00% Operating expenses: $122.000.00 Markdowns: $5,500.00 Transportation: $1.300.00 Alterations:none allowed Stock shortages: $610.00 Employee discounts:none allowed Cash discounts: $1,700.00

4. (under Initial Markup) p.86 ...(Note - Do NOT follow the hint provided in the text. Instead use equations on pg. 80 of the text.) Determine the initial markup percent for the following: (Hint Set up a Profit and Loss statement to determine the dollars and percents) Gross sales:$480,000.00 Profit:6.00% Invoice (w/tran): $292,000.00 Markdowns: $10,200.00 Alterations: $4.000.00 Stock shortages: $1,200.00 Employee discounts: $600.00 Cash discounts: $2.920.00